A bug in the default printer setup for Epson printers in OS X is affecting users, where upon performing some tasks like switching various modes in the printer, or even printing itself will result in a failed print job and an error output to the system console that mentions "rastertoescpii failed."
People affected by this bug have tried removing and re-adding their printers, and resetting the OS X print system, with no apparent effect. In addition, the bug persists even when creating a new user account to test any account-specific settings, and after running permissions fix routines.
Apple has offered various updates to its supported printer drivers, but these likewise have not fixed the issue.
Apparently this problem revolves around not having a proper computer name for the system. Mac systems should have a network computer name entered in the Sharing system preferences, but if not then some services that require this may fail to work properly. The Epson printer services appear to be one of these, so to fix this problem you may simply need to ensure your system has a proper name.
To do this, go to the Sharing system preferences, where you should see a field for your computer name. By default the name should be something like "Topher's Laptop" or "Sam's Mac Mini" to note the primary owner and the system type, but it could be whatever you'd like. If it's blank or if the name appears to be garbled or have odd characters in it, then provide or replace the name in this field.
Be sure that changes you make to the name are also reflected in the "local network" name mentioned right below it. By default this name should be the same with all punctuation removed and dashes in place of spaces, with the name ending in a ".local" suffix. If the name is different, then click the "Edit" button and change it accordingly. For instance, if my system's name is "Topher's Laptop" then the network name will be "Tophers-Laptop.local."
With this change made to the system, you should not need to reboot your system or log out and back in for the fix to work. Try printing again, and hopefully your Epson printer will work again.
An alternative option is to use third-party printer drivers for your Epson printer, such as the Gutenprint driver pack for OS X. To do this, go to the Gutenprint Web site and download the latest version of the drivers. Install them, and then go to the Print & Scan system preferences, remove your printer, and then re-add it. When you select your printer device, choose "Select Software" from the "Use" menu for the driver to use, and then locate the driver for your printer model, making sure you select the one that says "Gutenprint" in the name. If there are multiple such drivers, then you can try adding one, but if it fails then remove the printer and re-add it, using one of the other drivers.
A final option is to try clearing out all of your Epson drivers and then reinstalling them. To do this, first delete your printer from the Print & Scan system preferences. Then go to the Macintosh HD > Library > Printers folder and remove the "EPSON" directory in there. When done, install either Apple's latest Epson printer drivers (currently version 2.15) or the Gutenprint drivers mentioned above, and set up your printer again.